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Gulf Coast Commercial Acquires Retail Asset In Birmingham From Nuveen Real Estate For $27M
SOLD
$27,000,000
Alabama
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Sold
SOLD
Gulf Coast Commercial Acquires Retail Asset In Birmingham From Nuveen Real Estate For $27M
4606 US Route 280
See Similar DealsRetail
Sold
Summary
ALABAMA
Asset Type:Retail
Transaction Type:Sale
The transaction involved the sale of a retail property located at 4606-4614 US-280 in Birmingham, AL. The asset was sold for $27 million and includes 43,000 square feet available for leasing. The property was 75% leased at the time of sale, positioning it in a high-demand retail market.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $27,000,000
- Buyer: Gulf Coast Commercial
- Seller: Nuveen Real Estate
- Market: Birmingham, AL
- Brokers: Brad Buchanan & Jim Hamilton - JLL
JLL Capital Markets facilitated the transaction, connecting Nuveen Real Estate with Gulf Coast Commercial for the sale. The deal highlights the involvement of key brokers, Brad Buchanan and Jim Hamilton, who represented the parties in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,440,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$95,925.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$127,993.77
Annual Debt Service$1,535,925.30
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